Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1887-11-26
FRAUDULENT MINING SALES.
CursipE Mining as y RlskS Bnst.

The st. Louis mining market is get
ting into the condition that all markets
get into after they have suffered
from a boom. 1t is difficult
to sell anything there, and there are
plenty OF men who curse mining as a
risky business simply because they
have made some foolish investments.
1t makes no difference whether their
curses, which are frequent and loud,
are well based or not, they have the
effect on the community to bring
mining into discredit and stop all
chance for enlisting capital in good
and meritorious mining projects.
The reason for the present condition
of affairs car be found in the sales Of
wildcat property, which have been
made there. The mining nan who
knows the history Of these sales car
hardly help smiling at the credulity of
the fools who invest their money.
There is one instance of a San Juan
prospector who raised $4,000 to pay
for IN interest in q prospect and
furnish development capital simply
upon his own story, and the story he
told was what the boys would call a
daisy. He described how exceedingly
rich it was, and when an expert ex-
animation was suggested he stated
that such q thing was impossible, and
the reason he gave was that a small
lake was situated near his shaft and
that some years ago it overlooked and
filled his shaft. The water then froze
and it was now full of ice. Gauzy as
this story was, he succeeded in avoid
ing an expert examination by it and
secured $4,000. The men who fur
nished the money are now cursing
mining as a risky business, when they
should instead curse themselves for
being stupid fools.
Other famous deals in st. Louis are
we'll known to Colorado men, any one
of a thousand of whom could have
told before the deal was made that it
would probably result disastrously.
simply because prospects were going
at the prices which should be asked
for developed mines, or because the
representations made to induce a sale
VSAS0 uSAA So SNV1y CAbCxlClACCu ll1llC1
knows must be false.
History always repeats itself in this
matter of mining boonls. One or two
very fortunate investments in mines,
like that of the St. Louis men in Gran
lite Mountain, Colonel Sellers or Small
Hopes, excites the crowd and without
reason causes every one to desire to
buy mining property with the expecta-
ton that they too will be fortunate.
While the craze. lasts peddlers of Wild
cat property get in their work, and
when the public finds how it has been
swindled by these scoundrels it raises
a great howl, and, too obtuse to see
that it has been the victim Of it's own
foolishness, curses mining as a risky
business. Then the pendulum of pub
lie feeling sways the other way, and it
is almost impossible to raise money
for exceedingly favorable ventures.
The fools will always exist and ras-
calls probably will be on hand to
fleece them. The unfortunate thing
for the mining business is that the
laws are so executed that the men who
are rascals are not sent to the peniten-
tiary, where they belong. If they
We're there would be fewer Gray
Eagle, Bremen, Gilt Chicken, Calico,
Little Pittsburg and other similar
mining swindles perpetrated on the
public.-Denver Republican.